Hi everybody!
I found this site a few weeks ago and I’m starting to read through a lot of the topics in the various forums. There’s quite a bit of useful, thought provoking discussions to explore. It’s fantastic!
I’m planning to retire from a large corporation later this year when I turn 55. My wife is planning to retire from her job early next year.
Below is a summary of our stats. Are we positioned reasonably well to do this? What do you think?
Ages and family:
- Me: 54
- DW: 48
- No kids;
- Our parents are alive; not expected to require much financial support. But time will tell.
Retirement savings: $2,000,000
Our accounts are organized as:
401K: $1.1M
IRA: $70K
Taxable Accounts: $830K
Asset allocations:
US Stocks: 43%
Non-US Stocks: 12%
Bonds: 33%
Real Estate: 6%
Commodities: 4%
US Saving bonds: 2%
Cash: 2%
Home: Paid for.
Other Debt: None
Pension (private sector) begins at age 55: $56,000/year.
- No COLA
- In my plans, I’ve been using the 50% survivor option
- I still need to run numbers for a survivor scenario as the FAQ suggests to see if the plan still works if I kick the bucket next year.
To be a little conservative on social security, I have been assuming 50% of the SSA estimate.
- Social Security for me (age 67 FBA x 50%) : $16K
- Social Security for DW (age 67 FBA x 50%) : $12K
Annual Living Expenses : $78,000
- Includes recent quote on retiree medical plan from megacorp and long-term care insurance plan for both of us
- Based on actual living expenses over the last 6 years.
- Does not include state, federal or property taxes
- Last two year have been lower than the previous 4 years.
We have been exploring the things we expected to be interested in doing for the next 10-15 years and have been buying our recreation toys of choice over the last couple of years. Neither of us have very expensive hobbies anyway. As far as I can tell, our average from the last 6 years is a reasonable prediction of what we’ll see in the foreseeable future.
FIRE Calculator 40 year retirement: 96% success
Flexible Retirement Planner: 100% success
Thanks
I found this site a few weeks ago and I’m starting to read through a lot of the topics in the various forums. There’s quite a bit of useful, thought provoking discussions to explore. It’s fantastic!
I’m planning to retire from a large corporation later this year when I turn 55. My wife is planning to retire from her job early next year.
Below is a summary of our stats. Are we positioned reasonably well to do this? What do you think?
Ages and family:
- Me: 54
- DW: 48
- No kids;
- Our parents are alive; not expected to require much financial support. But time will tell.
Retirement savings: $2,000,000
Our accounts are organized as:
401K: $1.1M
IRA: $70K
Taxable Accounts: $830K
Asset allocations:
US Stocks: 43%
Non-US Stocks: 12%
Bonds: 33%
Real Estate: 6%
Commodities: 4%
US Saving bonds: 2%
Cash: 2%
Home: Paid for.
Other Debt: None
Pension (private sector) begins at age 55: $56,000/year.
- No COLA
- In my plans, I’ve been using the 50% survivor option
- I still need to run numbers for a survivor scenario as the FAQ suggests to see if the plan still works if I kick the bucket next year.
To be a little conservative on social security, I have been assuming 50% of the SSA estimate.
- Social Security for me (age 67 FBA x 50%) : $16K
- Social Security for DW (age 67 FBA x 50%) : $12K
Annual Living Expenses : $78,000
- Includes recent quote on retiree medical plan from megacorp and long-term care insurance plan for both of us
- Based on actual living expenses over the last 6 years.
- Does not include state, federal or property taxes
- Last two year have been lower than the previous 4 years.
We have been exploring the things we expected to be interested in doing for the next 10-15 years and have been buying our recreation toys of choice over the last couple of years. Neither of us have very expensive hobbies anyway. As far as I can tell, our average from the last 6 years is a reasonable prediction of what we’ll see in the foreseeable future.
FIRE Calculator 40 year retirement: 96% success
Flexible Retirement Planner: 100% success
Thanks